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Norwegian shipping and tank terminal company\u00a0 Odfjell SE has revealed plans to cut its greenhouse gas emissions by 50% by 2030 compared to 2008 levels and have a climate-neutral fleet from 2050.\u00a0<\/p>\n
The targets exceed the objectives of the International Maritime Organization (IMO) of 40% CO2 emissions reduction by 2030 and a 50% reduction by 2050 compared with 2008.<\/p>\n
\u201cWe believe that climate change poses a severe threat to society and business. Failing to operate in a sustainable way present significant risks to our industry, locally and globally,<\/em>“ \u00d8istein Jensen<\/strong>, Chief Sustainability Officer, said.<\/p>\n “Climate risk affects all businesses \u2013\u00a0but\u00a0also creates many opportunities for those able to adapt and willing to work to\u00a0make a positive change.\u201d\u00a0<\/em><\/p>\n Jensen was appointed in August\u00a02020 as the company\u2019s first Chief Sustainability Officer (CSO) and he has been tasked to lead company-wide work on environmental, social, and governance matters (ESG).\u00a0 <\/p>\n \t\t\t<\/a><\/p>\n In line with its strategy, the company said it would only order vessels with zero-emission technology from 2030, vowing support to initiatives to develop technology and infrastructure for zero-emissions\u00a0ships.\u00a0 <\/p>\n Odfjell has managed to reduce its carbon intensity by almost 30% when compared to 2008 levels, according to its figures, and it claims to be on the right track when it comes to its sustainability goals.<\/p>\n Initiatives that helped the company cut its environmental footprint included optimizing fuel consumption and fuel efficiency, as well as fleet renewal and retrofitting, investments in new technologies, and digitalization.<\/p>\n The tanker owner has also committed to recycling its ships in accordance with current environmental regulations and conventions, i.e. Hong Kong convention.<\/p>\n For the third quarter of 2020, Odfjell reported positive results despite a seasonally slower market, a high number of drydockings, and an unclear macro environment.\u00a0 <\/p>\n Odfjell’s Q3 EBITDA was $72 million, compared with $82 million in 2Q 2020, with $64 million EBITDA reported by Odfjell Tankers and $8 million from Odfjell Terminals.\u00a0<\/p>\n The net result stood at $4 million compared to $31 million last quarter and a loss of $1.1 million from the same quarter last year.<\/p>\n During the quarter, Odfjell took delivery of the fifth super-segregator newbuilding and concluded its newbuilding programme with the sixth and last delivery in October. <\/p>\n “We have concluded 3 long-term timecharters for medium stainless steel vessels at Asakawa shipyard for delivery in 2022 at attractive timecharter rates,<\/em>” the company said.<\/p>\n In addition, Odfjell has established a new pool for coated IMO2 chemical tankers, initially adding 6 vessels, and is actively working to further expand this pool.<\/p>\n \u201c3Q20 was impacted by seasonality and a high number of drydockings. We are satisfied with our ability to continue to report positive results in this challenging environment<\/em>,” CEO Kristian M\u00f8rch<\/strong> said. <\/p>\n “We keep renewing contract rates at higher rates, which is an encouraging sign. We have taken further steps to consolidate the chemical tanker market by establishing a new coated pool which will further strengthen our operational platform in a capital-efficient way. We expect the 4Q20 results to be in line with 3Q20.\u201d<\/em> <\/p>\n The post Odfjell sets sights on climate-neutral fleet from 2050<\/a> appeared first on Offshore Energy<\/a>.<\/p>\n world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":" Norwegian shipping and tank terminal company\u00a0 Odfjell SE has revealed plans to cut its greenhouse gas emissions by 50% by 2030 compared to 2008 levels and have a climate-neutral fleet from 2050.\u00a0 The targets exceed the objectives of the International Maritime Organization (IMO) of 40% CO2 emissions reduction by 2030 and a 50% reduction by …<\/p>\n","protected":false},"author":1,"featured_media":21250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[13264,1973,543,3047,11260],"class_list":["post-21249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-climateneutral","tag-fleet","tag-odfjell","tag-sets","tag-sights"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/21249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=21249"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/21249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/21250"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=21249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=21249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=21249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n\t\t\t
\n\t\t\t\tOdfjell gets 1st Chief Sustainability Officer
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Q3 Results<\/h2>\n<\/div>\n